Partnership Connects Powersports Enthusiasts with a Seamless, Digital Financing Experience
NEW YORK, January 28, 2025 — Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced that it has executed a forward-flow partnership with Georgia’s Own Credit Union (Georgia’s Own), which was facilitated by LoanStreet Inc.
Under the agreement’s terms, Georgia’s Own has agreed to purchase high-quality, fixed-rate installment powersports loans originated by Octane’s in-house lender, Roadrunner Financial®, Inc. that are aligned with Georgia’s Own’s risk criteria. Borrowers will become members of Georgia’s Own at the time of contracting in a secure, seamless, digital process powered by Octane. Roadrunner Account Services, LLC, Octane’s in-house loan servicer, will service the loans.
“We’re excited to partner with Georgia’s Own to support its members with an incredibly efficient, timely, and simple financing experience that connects powersports enthusiasts with their passions,” said Steven Fernald, President and Chief Financial Officer at Octane. “As we continue to grow our business, we’re constantly enhancing how we use technology to support our partners and customers while providing full-spectrum financing and delivering strong credit performance.”
This transaction continues to diversify Octane’s large existing base of capital providers and further fuels the company’s significant momentum and growth; Octane surpassed $5B in aggregate originations in September.
“Our partnership with Octane has been a seamless experience,” said Christin Hewitt, Chief Financial Officer at Georgia’s Own. “While we currently serve over 240,000 members throughout the State of Georgia, this unique partnership allows us to add high-quality assets to our balance sheet while also welcoming new members to the Credit Union, giving those members access to our full suite of personal and business financial services.”
“Partnering progressive credit unions like Georgia’s Own with best-in-class fintech lenders like Octane is critical to the continued success of both credit unions and fintechs,” said Ian Lampl, CEO of LoanStreet, which partners with over 1,300 credit unions to facilitate balance sheet management solutions and increase capital deployment efficiency.
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